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and change whereas brent is so high and of course, our gasoline is priced up at brent because of the mismatch of the non-federal policy on energy and everywhere we don't need it. we don't have keystone yet and we can't get the refiners and they used to have the right oil and they're all for heavy oil. >> you mentioned two problems that require the federal government to have a response. an energy policy and an immigration policy. neither of which yet exists. >> no. 6:30 dinner is sacrosanct at the white house, and we know when we have congress people on they seem to want to spitball each other and throw mud. i don't see the consensus developing. everyone thinks the market can take care of itself. you can't. the cng, compressed natural gas, so the companies want gas, but they want the -- you can't do what's uponed without the federal government. not subsidies, but just law. >> let's switch gears here and talk about apple. jefferies is cutting its price target from $420 a share from $500 while maintaining a hold on it. asia channel checks have led him to cut revenues to the low end of current qu
-- >> that's pocket change. literally pocket change for warren buffett. >> what did he say, his perspective is always interesting. >> his demeanor -- >> even when it comes to newspapers. >> local is still important. >> if he still likes stocks and likes companies, shouldn't people at home like stocks and companies? he's a thoughtful man. i like him. >> let's talk about the markets overall as we start the week. the dow starting within 75 points of its all-time closing high. the markets are facing some headwinds. you have continued wrangling in washington over the sequester. data showing the wealthy shouldering the load in consumer spending. futures are lower after a sell-off in the shanghai market after beijing announced new property buying restrictions. you add all these things together, jim, and you think slowing growth around the world. we also, of course, got the terrible pmis on friday which showed slowing in europe, across europe. >> the best performing groups, augmented by the purchase of heinz, are these companies that do really well in a slow economy. kimberly, clorox, they're very
this number is baked in the cakes, the claims numbers, four-week moving number show there is no change in the labor market. the jolts data show you no major change in the labor market. none of the other indicators we look at show us there has been any near-term change in the labor market. we expect it to come in right around average, a little bit better than the consensus, we still, as we look forward in terms of looking it he squeeze on corporate profitability and corporate focus on earnings begin to think we are going to have a second quarter dip in employment, into the decline in employment, but a slow down in the pace of employment the second quarter, bring it back below 150,000 workers per month. >> steve, as an economist that sees weakness in future months in general in the economy, questioning the strength of corporate profits at this point, are you a bit surprised the markets are at record highs? i mean is this -- >> our view is the equity market is following what happened in the economy. the economy returned to the precrisis high several quarters ago and got the equity mark th
this man has learned. >> it feels like sentiment is changing on the stock, for sure. >> we have the galaxy coming out. that's got to be the point of worst -- liket comes out. unless galaxy sells 42,337,000 new galaxy s44 ss, people are going to be disappointed. it is time for people to start being disappointed about samsung before we see the numbers. >> the expectations are 10 million units sold in the first month on sale. with the s3 they had some supply issues. they lost $2 million in sales. they say they've remedied that this time around. but there are hiccups that could be seen with samsung. is the s4 anything revolutionary? no. >> that was the discussion yesterday with the analyst on at 11:00. there's no form function that's going to be revolutionary at all in hard way. until they figure out how to make a benable screen or something. bells and whistles are getting harder to come by. >> don't you think we should create a whisper number of 10 million? we can create our own disappointment right here right now by fomenting a number that's impossible for them to reach then literally say th
and will it be a bernanke bounce or buzz kill? we'll be focused on the statement and the news conference changes to language and the new fed forecast for the economy. and the stocks we're focused on this morning, blackberry getting an upgrade at morgan stanley and a note titled why it won't go down and it gets into the best buy bull camp, and calling it the best near-term idea in the sector. let's get straight to fedex. the package delivery company says it earned $1.23 a share in the fiscal third quarter and below wall street forecasts. fedex says the customers were choosing slower transit services. this does happen, of course, after a massive run in the transports. >> one of the things that amazes me about fedex is they keep missing and they get loved a few days later. missed and gets loved. it's still regarded as being a profit machine. they have this restructuring that people like very much. people feel it's only a matter of time before someone steps up to the more expensive freight. to me, my charitable trust owns ups. ups has the expectations lower. scott davis always says negative things. >> melissa h
structural change in the japanese economy. if they do, the experiment can end well, and that's in some sense what markets are counting on. >> what do we do about income disparity? if the government tries to redistribute, it doesn't work, does it? >> so, you know, when we talk about tax policy, changes in tax rates as was described over the debt limit, what's the first thing that we all ask ourselves and "the new york times" runs? what are the distributional consequences? will the rich be paying more? what about the middle class? shouldn't we be having that same discussion in the conduct of monetary policy? if you think about this monetary policy, if you've got the freedom, like ken and stan, to devote huge amounts of money into liquid assets, to play the risk game, you're going to be a huge beneficiary. so this is in some sense a policy where we also need to think about the distributional consequences. and this is in some sense a transfer to people that are rich. >> trickle-down economics. >> stan calls this trickle-down economic policy. others can see if it worked in fiscal. we'll see if it
high ahead of the leadership change ahead of the boj tomorrow. >> the bull keeps on going after yesterday's 69-point loss and a bounce expected today as investors look to the fed. it kicks off its two-day meeting today with the best conference tomorrow. meantime, the vote is scheduled in cyprus hours from now and the latest deposit tax scheme. happy anniversary, apple dividend and it was a year ago when the tech giant announced its dividend in 17 years. will apple succumb to the bigger payout as it faces stiffer competition from samsung. lululemon doing the downward facing dog with the transparency with the iconic black yoga pants prompting the retailer to cut sales guidance and boeing clinches an order from ryanair. of course, we begin with the markets. the dow and the s&p 500 hoping to avoid their first three-day losing streak of the year. wall street will be paying close attention in about three hours from now. that country's parliament scheduled to vote on a proposed tax on bank deposits and the controversial measure appears set to go down in defeat. here in the u.s., policy
.s. carrier to drop smartphone subsidies. some call it a sea change in the way these things are sold. jim? >> t-mobile is the one who should be giving the phones away. t-mobile needs the customers. they can do whatever they want to try to stick it to apple and samsung, but the at&t, verizon stranglehold will just become even greater. when i saw this t-mobile i said geez, that's good for dan hessy and that's good for at&t and not that those stocks need any. those stocks have been fabulous stocks and you look at verizon maybe doing a vodafone deal. at&t is the apple company and t-mobile. that's why i said this is phoneacide. that's a great pitch. we're the guys that don't subsidize you that have just an okay service. i don't know, caveat emptor. >> is there nothing attractive about separating the cost of the phone from the cost of the service? >> not to care about t-mobile because they do have the sexist ads that are certainly -- >> i think that in the end we want to know how much great p phone power that we can get for little money. they're doing something i don't understand. i'm sure ther
inventories go down. again, they kind of changed terms, slow-moving inventory, drew down on inventory. the net of those two things is about $325 million. so if you look at the $965 million adjusted number, $640 million of it is the pure number i think you can expect to be reoccurring, if nothing else in the business changes. that's what we should talk about, whether the business will change. >> that's what i wanted to come back to the number for me for. also the fact that they're not giving guidance for the fourth quarter. are things not really changing for the better in the short term? >> the drivers on whether this business is going to drive, stay the same or go away, are whether they can stabilize their store traffic, and whether they can stabilize margin. in order to stabilize traffic, they have made the decision they're going to price match, which sounds like it's going to knock margins down. in order to continue to drive traffic, they're going to invest. actually, i love that term, invest. they're going to spend more money on sg & a, more money on i.t., build a website and promote produc
to risk money. that has not changed. even with these new highs. >> that's a great point. that's a very -- >> a risky place to make money. i went back and looked at a tape of a show that jona in 1997, and you had people taking their -- they're borrowing money to be in the stock market, taking their 401(k) and trying to find ways to get around it, put everything in, giving up their businesses to day trade. you don't see that now. >> good. >> that is good. >> i don't want the fruit guy who sells in the morning and then day trades in the afternoon. i don't want that. maybe you want broader participation, however, in the equity markets. but you may not get it. it does begin to look as though that fear that you're discussing, the risk parameters changing, is generational. >> generational is right. >> in terms of today's playbook, what are you looking for? we could hit another record. what do you do? >> i'm looking at something -- david, get ready, because i'm going to say this -- >> okay. >> i'm looking at the possibility we may be in for a decent run here. because europe is at a 4 1/2-year
earnings. >> and you like to see them do that? >> if they actually believed there would be a change and there would be a territorial tax system then leave it there for the time being and if there isn't, they should pay the tax and bring them back. >> for anyone who missed it. you did have a position in apple and you sold out of it last fall. >> no, we cut the position. we are now overweight apple and we completed the position just a couple of days ago. in fact, an interesting thing on an willel, the apple 2015 leaps for the 500s trade around 40 bucks. if apple goes back to where it was six months ago that is four to five times your money. >> bill, thank you so much for joining us and brian, thank you. >> they dragged me in. >> make sure you join us on monday. "squawk on the street" begins right now. ♪ ♪ ♪ >>> the big question, will today be the day? the s&p 500 surpasses its all-time closing high or should the bears beware the ides of march. i'm melissa lee with carl quintanilla, jim cramer and david faber from the new york stock exchange. it does look like we are backing off
the net short positions flip sense the first week and that's a big change. thank you. >> sharon epperson. coming up on "squawk on the street" are more consumers looking to trade in their iphones now that the samsung galaxy s4 has been unveiled. we'll speak to someone in the business of consumer electronics trade-in and we head to break this morning. bright spot. look at jc penney and melissa lee pointed this out to us. what's going on with jcp? >> somebody get herb greenberg on the phone. >> if jc penney converted to reitlike units it could go out to other retailers and that would make it $46 a share with $40 accorded to the reit part of the business. >> here you go. >> it's why we're the best in the business. we're back after this. ♪ ♪ [ female announcer ] you're the boss of your life. in charge of long weekends and longer retirements. ♪ ask your financial professional how lincoln financial can help you take charge of your future. ♪ how lincoln financial can help you take charge of your future. investor. yeah, ibut i'm a busy guy.or it used to be easier but now there are more ch
changes, the yen, handbag intensification at the high end, 30% comps at coors and tory burch and they still upgraded to a buy. >> i think we get stocks down where they say be careful with the numbers. i think this best buy phenomena with goldman upgrading yesterday. the stock was down forever and now maybe someone will cirque willel and we obviously had rumors the other day that some of the european luxury companies would look at coach. it's very easy to craft a story to buy coach. i'm trying to work with nicole erkin who is one of my associates. she happens to be here because people always want their name on. their moms and dads like that. we always like coors, which is a better buy. once a growth stock where they had a gigantic insider sale. i have to tell you, you have to step up to the plate. >> really? even -- citi says comps down 2%. they actually brought their comps in despite the upgrade. >> i know, but remember, best buy started good when everyone decided that the comps were absolutely hideous. do i like coach? i'm not excited -- >> the recent best buy does nothing f
get medicare part b up a little and change some of the configurations and in 2030, we change social security, i don't know, i think china would begin to think, you know what, the united states -- i use that as an example because everybody feels china is beating us everywhere -- we beat everybody we need to do the grand bargain. >> they hate each other down there. >> the s&p record, that's going to be maybe the story of the morning at least. >> yes. >> 1565 is the closing high. there's interday, 1576. and as far as the dow goes, jim, 14,414, which is 85 points away, would put us in double-digit gains for the year. is that too much too soon? >> no. because i think the market has great faith in bernanke, more than the pundits. i think the market says, you know what, they can figure out what to do in washington in the interim. we've got a tremendous pent-up demand. why do people -- we've had people on air who say, we may build as many as 1 million houses. we built 1.6 million houses for years. how many people have to get hired. you talk about the immigration policy. if you get a normali
why pepsi changed the 20-ounce bottle design so it would standout on the shelves and it's a new contoured bottom with a different shaped bottle so it's easier to grip. >> what is the number one soft drink in india? >> what is it in india? >> dew. >> mountain dew. do the dew. it's electric over there. >> i should have known that. i was there recently. i didn't have any dew. >> a morning dew. >> on thursdays i have a mountain dew. >> you're talking to the ceo of pepsi, of course, you said that. >> i told her i'm having my weekly morning mountain dew. she said why don't you have a mountain dew every day? i said because mountain dew, that's a treat. i'm trying not to have soft drinks. >> you really have a dew every thursday? >> every thursday with the caesar chicken salad. at the commissary. >> they freshly chop the chicken and mix it by hand. >> a little tomato. >> forgot about that. >> lost on you because you've got -- >> i think because he's got that 12:00 show. >> i don't get to eat. >> and spending some big bucks there. >> i don't have any money left for the chicken caesar sala
. >> it has done itself to -- i mean, one day people will recognize that they changed. the corpsmen have changed it. >> is this a different institution than it was years ago. you say management could have been an important known of this and now we're over with gary kaminsky. >> gary would be a great guy to go to on this. you have europe back and he would be able to relate it in terms of margin calls and hedge funds being up too much. i miss him. >> yeah. >> i miss him. >> morgan stanley also trying to get its head in the dell game, as well, which we'll talk a bit about advising blackstone. >> well, we have to talk about that because it is so out of sync with what i'm seeing everywhere else. >> yeah. >> bullish guys saying this is a great opportunity. meanwhile, that world is just collapsing. >> yeah. very, very interesting. 5.6 in operating income is what dell was looking for internally in july and now closer to 3 billion. mea culpa on my part and experience and my reporting indicated led me to believe would blackstone try to jump this deal? is that something that we can expect to see an
the quarter but sold 1 million units of its new z-10 device. the numerous changes at blackberry over the last year are having a positive impact. he will be a guest on street signs today at 2:00 p.m. eastern. that's a must-see interview. just watching the stock premarket, what a ride it has seen. amazing. >> i think there are people who want this stock down. we've been talking a lot in a very safbvy way in this network about how many people were shorted. let's not lose the -- this company was supposed to have a terrible quarter. they did not have a terrible quarter. makes it more likely they'll be in business for a long time. makes it likely microsoft or nokia makes a run at them. when you see a company make this money without the new product, gi back to some parts -- morgan stanley piece saying, maybe you don't even have to think about the device. subskripgs model is good even if you lose some subscribers. >> the lesson being these things do get overdone on the down side on occasion when there's a great deal of emotion involved and it does appear that there's no end in sight in terms of subsc
with the facts, and the facts are good. the facts could change, but i'm stuck with them and all year i've heard that the payroll tax would kill us and the sequester is going to kill us and i've come out here and saying i'm waiting for it to kill us. in the interim the market is going up. sure, one day it will kill us. say we're up 12% that will kill us. in the meantime that was the 12% that you had to make. >> you wouldn't have missed the rally had you invested in fear of sequestration and all of the fears that never seem to come to fruition, not to say they won't still, but you play the hand you're dealt with and this is what we have here. >> in 1987 the market crashed in october. if you had bought stocks the larger, most actively-traded stocks that friday before the crash, arguably, the most stupid day in history to buy, but if you listen to the commentary it was always that the economy was about to collapse because the stock market's always right. you know, i hear a lot of how the economy is about to collapse and this time the stock market's supposed to be wrong, but the economy is not fitti
eyes. it's breath taking. >> and people are saying you're changing your mind. i say, look, i'm a cautious bull and cautious hasn't worked. being cautious hasn't worked. >> you trade the market you have. >> at the same team you havor beingael and after its dismal earnings report. no terms have been disclosed and presumably it's a fairly small deal, but still still, oracle is not finding any love out there. >> no. your broader point about cautious not working. cashin comes on here time after time and says it's not quite a hold your nose buy signal and it is a forced risk buy, is it not? >> i never want to do that. that's a level of complacency. let's take nike last week, carl. here was a company that a lot of people told me they didn't have it. they have a big china business. this was an extraordinarily good quarter. intraquarter again. they managed to address some of these concerns. i am just in awe of some of these american companies that said we screwed up. we'll fix it. what do they do? the day after the quarter and they say listen, here's what we did wrong. i goes so. i lo
ago that there was no twitter. we'll take an in-depth look at how the site has changed the world with one of twitter's earlier uses. and kacarmen reinhart will be here. ♪ twith blackberry hub10 and flick typing. built to keep you moving. see it in action at blackberry.com/z10. a new ride comes along and changes everything. the powerful gs. get great values on your favorite lexus models during the command performance sales event. this is the pursuit of perfection. arrival. with hertz gold plus rewards, you skip the counters, the lines, and the paperwork. zap. it's our fastest and easiest way to get you into your car. it's just another way you'll be traveling at the speed of hertz. >>> >>> oracle shares down sharply, down by 9% after reporting sales and profits that fell short of wall street estimates. mark has a market per pering rating on the stock. he joins us now. great to have you with us. what is the diagnosis of the problem? is this an oracle specific problem or an i.t. spend problem? >> our belief is -- thank you for having me, by the way -- our belief is this is an oracl
Search Results 0 to 19 of about 20